Question

Southeast Electric's bank statement shows a bank balance

of $43,367. The statement shows a bank service charge
of $93. Southeast Electric's book balance shows outstanding
checks of $5,296 and deposits in transit of $9,329. The
adjusted balance on the bank side of the reconciliation would be:
A. $43,367.
B. $47,400.
C. $43,274.
D. $39,334.

Answer 1

The adjusted balance on the bank side of the reconciliation would be C. $43,274.

Here's how to calculate it:

Starting bank balance: $43,367
Bank service charge: -$93
Outstanding checks: -$5,296
Deposits in transit: +$9,329

Adjusted bank balance: $43,367 - $93 - $5,296 + $9,329 = $43,274